Banks that don't adapt to new reality will fail, ECB's Nouy says
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Daniele Nouy, chair of the Supervisory Board of the European Central Bank, attends the 2016 Institute of International Finance (IIF) Spring Membership meeting in Madrid, Spain May 24, 2016. REUTERS/Susana Vera
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
FRANKFURT (Reuters) - Banks that do not adapt to the new reality of low interest rates, competition from fintech companies and tighter regulation will fail, one of the European Central Bank's top supervisors said on Wednesday.
"The banks that adapt will thrive, those that don’t will fail," Danièle Nouy, chair of the ECB's supervisory board, said on Wednesday.
(Reporting By Francesco Canepa; editing by Ralph Boulton)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wall Street again marks new highs in post-election run
- Egypt received inflows of $1 billion in month since currency float: central bank
- Syria, Russia pound rebel-held Aleppo but advances halt
Create E-mail Alert Related CategoriesReuters
Related EntitiesEuropean Central Bank
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!